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Measure 70

House Joint Resolution 7—Referred to the Electorate of Oregon by the Legislative Assembly of the 2009 Regular Session to be
voted on at the General Election, November 2, 2010.

Ballot Title

Amends Constitution: Expands availability of home
ownership loans for Oregon veterans through Oregon War
Veterans’ Fund.

Result of “yes” vote

“Yes” vote extends home loan program for Oregon veterans
to lifetime benefit and increases eligibility for non-combat
veterans, National Guard veterans and veterans who served
after 9/11.

Result of “no” vote

“No” vote retains current law: Some combat veterans who
completed service within past 30 years are eligible for loans;
other veterans honorably discharged and some National
Guard veterans remain ineligible.

Summary

The Oregon Constitution currently provides that Oregon
combat veterans may receive low-interest home loans from
the Oregon War Veterans’ Fund. Veterans must have received
an honorable discharge and must have served for more than
210 consecutive days or been released because of injury or
disability. Veterans must apply for loans within 30 years after
release from service and must show ability to repay the loans.
This measure amends the Oregon Constitution to make loans
available to more veterans, including National Guard veterans,
others who have honorably served overseas and veterans
who have not seen combat. This measure would make
low-interest home loans a lifetime benefit and would increase
the number of honorably discharged veterans and surviving
spouses who are eligible for the low-interest loan program.

Estimate of Financial Impact

There is no direct financial effect on either state or local government
expenditures or revenues.